Nordea enters into referral agreement with Citi for sub-custody services
Nordea has decided to exit its Nordic sub-custody business and has entered into a strategic referral agreement with Citi. Nordea recommends that its sub-custody clients appoint Citi as their new provider. Nordea is committed to ensuring that clients who do not migrate to Citi will be assisted through an orderly transition of services to a provider of their choice.Nordea’s sub-custody services provide financial institutions with access to settlement, safekeeping and asset servicing of Nordic securities. Following its decision to exit the sub-custody business, Nordea continues to focus on